TXNM Energy enters $125M at-the-market equity distribution agreement

TXNM ENERGY INC

Company may sell up to $125M of common stock through BofA, MUFG and Scotia Capital as sales agents.
Sales may be made via ATM offerings on NYSE or privately negotiated transactions; commissions up to 2%.
Also may enter forward purchase transactions with Bank of America, MUFG and Bank of Nova Scotia.
Company not obligated to sell any shares; proceeds expected only upon physical settlement of forward agreements.
Agreement filed as Exhibit 10.1; legal opinion of Associate General Counsel also included.

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